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My husband and I have quite a bit of credit card debt that we have accumulated through too many years of graduate school. We are desparate to consolidate the debt--to do something to make the payments more manageable so that we can start paying them off. Recently we were offered a deal by Alta Financial mortgage whereby we would combine our mortgage with a loan to cover our debt. The interest rate would start at 9% and in three years lock in at 8% for the duration. The monthly payments would be significantly lower than everything is now. But this seems to good to be good. What should I look out for? Please help.
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